Zacks Investment Research upgraded shares of Kirby Corporation (NYSE:KEX) from a sell rating to a hold rating in a research report released on Monday morning.
According to Zacks, “Kirby Corporation conducts operations in two business segments: marine transportation and diesel repair. The Company’s marine transportation segment is engaged in the inland transportation of industrial chemicals, petrochemical feedstocks, agricultural chemicals and refined petroleum products by tank barge; and in the offshore transportation of refined petroleum products by tanker and tank barge, and dry-bulk, container and palletized cargoes by barge and break-bulk ship. The Company’s diesel repair segment is engaged in the sale, overhaul and repair of diesel engines and related parts sales. “
Several other equities analysts also recently commented on the company. Jefferies Group LLC reaffirmed a buy rating and issued a $85.00 target price on shares of Kirby Corporation in a research report on Tuesday, May 30th. Stifel Nicolaus decreased their target price on Kirby Corporation from $71.00 to $69.00 and set a hold rating on the stock in a research report on Thursday, June 15th. BidaskClub raised Kirby Corporation from a sell rating to a hold rating in a research report on Tuesday, June 13th. Cowen and Company upped their target price on Kirby Corporation from $65.00 to $70.00 and gave the company a market perform rating in a research report on Thursday, April 27th. Finally, Credit Suisse Group raised Kirby Corporation from a neutral rating to an outperform rating and upped their target price for the company from $58.00 to $80.00 in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $66.00.
Shares of Kirby Corporation (KEX) traded down 0.62% during mid-day trading on Monday, hitting $64.55. The company’s stock had a trading volume of 43,661 shares. Kirby Corporation has a 1-year low of $50.80 and a 1-year high of $74.50. The company has a 50-day moving average of $65.97 and a 200 day moving average of $67.90. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 26.62 and a beta of 1.03.
Kirby Corporation (NYSE:KEX) last announced its quarterly earnings results on Wednesday, April 26th. The shipping company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $491.70 million for the quarter, compared to analyst estimates of $423.91 million. Kirby Corporation had a return on equity of 5.46% and a net margin of 7.25%. Kirby Corporation’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. On average, analysts expect that Kirby Corporation will post $2.05 EPS for the current year.
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Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Kirby Corporation by 12,366.8% in the first quarter. BlackRock Inc. now owns 5,003,672 shares of the shipping company’s stock valued at $353,010,000 after buying an additional 4,963,536 shares during the period. Vanguard Group Inc. boosted its stake in shares of Kirby Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 4,159,390 shares of the shipping company’s stock valued at $293,445,000 after buying an additional 208,693 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Kirby Corporation by 11.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,903,448 shares of the shipping company’s stock valued at $134,285,000 after buying an additional 195,368 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Kirby Corporation by 33.6% in the first quarter. Bank of New York Mellon Corp now owns 1,275,763 shares of the shipping company’s stock valued at $90,006,000 after buying an additional 320,566 shares during the period. Finally, FIL Ltd boosted its stake in shares of Kirby Corporation by 117.5% in the first quarter. FIL Ltd now owns 1,228,040 shares of the shipping company’s stock valued at $86,638,000 after buying an additional 663,539 shares during the period.
About Kirby Corporation
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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